Business

Tue,19Jun2018

Business

With revamped T-kash, Telkom Kenya aims to challenge Safaricom's dominance

 Kenyans stand in line to use public telephones provided by Telkom Kenya, Nairobi on Tuesday Jan. 15, 2002. Photo: KHALIL SENOSI/AP/SIPATelkom Kenya relaunched a mobile financial services platform on Monday that it hopes can challenge Safaricom's dominance of Kenya's lucrative mobile money market.

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South Africa's MTN cuts 2018 dividend to rein in debt, shares rise

People sell MTN phone cards on a street in Lagos, Nigeria Thursday, Nov. 5, 2015. Photo: Sunday Alamba/AP/SIPASouth African telecoms firm MTN Group cut its 2018 dividend on Thursday to cut debt but outlined increases in the next three to five years, lifting sentiment in the firm which some investors had expected to scrap this year's payout.

 

 

 

 

 

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Germany's SAP admits misconduct in South Africa Gupta deals

 SAP CEO Bill McDermott, left, and CFO Luka Mucic in Walldorf, southern Germany, Jan. 30, 2018. Photo: Uwe Anspach/AP/SIPAGerman software maker SAP found compliance breaches and "indications of misconduct" in $50 million of public sector deals in South Africa involving the Guptas, friends of former president Jacob Zuma accused of corruption, it said on Thursday.

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Kenya asks IMF for a 6-month extension of $1.5bn standby credit

Alex Brandon/AP/SIPAKenya has asked the International Monetary Fund (IMF) to extend its $1.5 billion standby credit facility that expires in March for a further six months, the IMF said.

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Kenya Airways looks upmarket for financial salvation

KAREL PRINSLOO/AP/SIPAWhen Sebastian Mikosz took over as CEO of loss-making Kenya Airways last June, he immediately shut its outlet in Nairobi's downmarket Accra Road, which served thousands of small traders who fly to the Far East to buy cheap goods in bulk.

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Nigeria's trade account turns positive in 2017 after recession

Nov. 17, 2015, cars drive past an MTN advertisement on the road in Lagos, Nigeria. Photo: Sunday Alamba/AP/SIPANigeria's trade account turned positive in 2017 as a rise in oil exports outweighed imports after dollar shortages frustrated transactions, the National Bureau of Statistics (NBS) said.

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Africa's top 500 companies: telecoms firms duel over data

Sven Torfinn/Panos-REA

Africa’s mobile operators are enjoying a subscriber boom. Next up: turning demand for data into bigger profits

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